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Sears Corp. Reaches $18M Settlement of Sale Dispute

Deal requires Transform Holdco to hand over $12 million in cash to Sears

Sears Holdings Corp., the estate of the iconic department store left behind in bankruptcy, has agreed to settle litigation over new owner Edward Lampert’s $5 billion purchase of the retailer’s best stores for more than $18 million.

Sears sold its best assets including 425 of its most profitable stores back to Mr. Lampert’s hedge fund, ESL Investments Inc., last year, and an ESL-backed company, Transform Holdco LLC, became the new owner. 

 

Read the source article at wsj.com

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